Montréal - On June 9, 2014, the Court of Québec found Serge Fréchette guilty of twelve charges brought by the Autorité des marchés financiers (the "AMF").

Mr. Fréchette was convicted of six counts of pursuing activities as a securities dealer without being registered as such and six other counts for aiding the Coopérative québécoise de formation des travailleurs autonomes (COOP PLUS) in making distributions without a prospectus. On March 17, 2015, a Court of Québec judge ordered him to pay a total of $36,000.

The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.